Latest Recessions and depressions News
At 78 and the oldest president, Biden sees a world changed
WASHINGTON (AP) — When Joe Biden took the oath of office as the 46th president, he became not only the oldest newly inaugurated U.S. chief executive in history but also the oldest sitting president ever. Biden was born Nov. 20, 1942, in Scranton, Pennsylvania. He was 78 years, two months and one day old...
Thousands of evictions loom in St. Louis amid pandemic
ST. LOUIS (AP) — Thousands of eviction filings are piling up in St. Louis and St. Louis County courts, leaving landlords and tenants frustrated, and advocates predicting a tidal wave of homelessness to come. Landlords have filed for almost 5,000 evictions since mid-March, when local courts suspended them,...
Biden inherits damaged economy, with signs of hope emerging
WASHINGTON (AP) — President Joe Biden has inherited a badly damaged economy pulverized by the pandemic, with 10 million fewer jobs than a year ago and as many as one in 6 small businesses shut down. Yet there are also signs of resilience and recovery that suggest the prospect of a rebound, perhaps a robust...
European Central Bank stimulus on track as economy struggles
FRANKFURT, Germany (AP) — With more than a trillion euros in stimulus still in the pipeline to the economy, the European Central Bank left its key bond-purchase program unchanged Thursday as the 19-country eurozone endures a winter economic slowdown due to the pandemic. ECB President Christine Lagarde told...
Clock ticking for CEOs to grow profits again
NEW YORK (AP) — Are better days ahead for corporate profits? They'd better be. CEOs across America have begun telling shareholders how much profit their companies made during the last three months of 2020, just as the worsening pandemic sent death rates soaring. The general expectation is for nothing...
Asian shares rise on optimism for more stimulus from Biden
TOKYO (AP) — Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. Hopes are high that President Joe Biden's administration will mean more support for the struggling U.S. economy, setting off a recovery that's crucial for the export-driven...
Italian PM Conte works to cement majority after narrow vote
ROME (AP) — Italian Premier Giuseppe Conte worked to solidify his majority in parliament Wednesday after narrowly winning a Senate confidence vote after a junior coalition ally yanked his support over Conte’s handling of the coronavirus pandemic. Conte was expected to brief President Sergio...
Japan shares fall on pandemic worries as rest of Asia rises
TOKYO (AP) — Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as U.S. president. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's...
Yellen pushes GOP senators on $1.9 trillion relief package
WASHINGTON (AP) — Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget...
Yellen urges Congress to do more to fight pandemic recession
WASHINGTON (AP) — Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too great to cut back on support now. “Without further action, we risk a longer, more painful recession...
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